Ovo has cut the cost of its Charge Anytime EV home charging plan by 30% to 7p per kWh, making it the cheapest plan on the market according to the energy giant.

The new price means EV owners can drive for less than 3p a mile

EV drivers can access the discounted rate at any time of day or night, unlike other EV charging plans.

The new price means EV owners can drive for less than 3p a mile, making a whole year’s worth of driving just £190 and 75% less than the price of driving a petrol car. That’s based on an EV customer driving the UK average of 7,000 miles at an average of 3mi/kWh.

The rate is nearly four times cheaper than the average cost of electricity (27p per kWh) for customers on a standard variable tariff under the current energy price cap. It’s unlocked by Ovo’s intelligent grid technology, powered by Kaluza, which splits customers’ home and EV energy usage to ensure EVs are charged on the low rate.

More than 11,000 customers on the previous Charge Anytime rate will automatically switch over to the new rate.

Mat Moakes, chief commercial officer at OVO, said: “Ovo’s bringing the UK’s cheapest EV charging rates to customers because we want to make green driving a no-brainer. The government may have delayed the ban on sales of petrol and diesel cars but with Charge Anytime making it 75% cheaper to run an EV than a petrol car, there’s never been a better time to make the switch.”

Customers can add Charge Anytime to any of Ovo’s tariffs. To access the charging plan, customers need to connect their EV or charger with their Ovo Energy account, and opt-in to smart charging. The cost savings will appear as a credit against energy bills.